Apple’s ‘death cross’ could resurrect stock

Apple Inc.’s 6.4% slide on Wednesday was its worst daily showing in almost four years, according to S&P Dow Jones Indices, and marks the third time in nearly six months that the shares have slipped below $550.

“Looking at these occurrences the data is fairly inconclusive but if it shows anything it is that a death cross implies better performance going forward,” Monsarrat wrote in an investors’ bulletin published late Wednesday.

He added: “The warning about a ‘death cross’ occurring should at the very least not be taken as a bad omen for future performance.”

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